Hospitality giant Whitbread is reducing its workforce seeing circa 6,000 jobs go across the hotel and restaurant chain. Whitbread operates a number of hospitality brands including the Premier Inns hotel chain suffered a steep decline in trade since the emergence of Covid-19, and fears that demand will at least in the short term remain weak. Revenues in the first … [Read more...]
Stonegate announces further support to lease and tenanted business
Stonegate Pub Company has announced further business support within its lease and tenanted business, Ei Publican Partnerships, creating an overall support package, which has been implemented in response to the Covid-19 lockdown, in excess of £36.5 million. The additional support includes rent reductions of 30% in October and a reduction of 20% in November for tied … [Read more...]
Leaks fuel wider lockdown speculation including more hospitality closures
While the country awaits an announcement from the Prime Minister following the address this morning from Professor Chris Whitty and Sir Patrick Vallance, speculation is rife concerning what measures will follow. If bookies were taking odds, a national lockdown seems to be the only measure not being widely speculated on currently, while many potential actions seem … [Read more...]
Diagnosis but no prescription does nothing to stem FTSE loss of £51bn
This morning the government’s chief medical and scientific advisors, Professor Chris Whitty and Sir Patrick Vallance addressed the nation with a diagnosis of where we are with Covid-19. They outlined a scenario that could see circa 50,000 new Covid-19 cases a day within a month from now, and Sir Patrick Vallance said he would expect to see in the region of ‘200 plus … [Read more...]
Economic gap in delegating from the Prime Minister needs addressing
This morning 11 am the Prime Minister will be absent from an emergency address to the nation from the government's chief medical and scientific advisors, Professor Chris Whitty and Sir Patrick Vallance. After much speculation it is expected that both advisors will outline new reasoning justifying plans for a series of further regional lockdowns to avoid a full national … [Read more...]